Industry & Economy
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Steel
Steel policy must be compatible with WTO: Assocham
Our Bureau
New Delhi
,
June 9
THE Associated Chambers of Commerce and Industry of India (Assocham) has suggested that the policy directions on steel be taken in a manner that is compatible with the World Trade Organisation.
In a note submitted to the Government, the chamber said, the national policy should balance the need for making available adequate amounts of steel , which is a basic raw-material for infrastructure development to the end-users, and also address the concerns of profitability and competitive pricing of steel manufacturers.Under the present circumstances where the international prices are rising on the fears of excess demand from some countries and supply inadequacy at home and even regionally, the chamber said the Organisation for Economic Co-operation and Development's proposal of voluntary capacity-creation-restraints should be resisted at a national level, keeping in mind the domestic economic (infrastructure) requirements and strategic needs.
According to Assocham , from the consumer's view-point, price stabilisation is the most critical requirement, especially for the small units. Despite the Government's directive, the effectively applied prices have not come down. Also, the price fluctuations are creating problems for small producers and end-users, whose budgets and competitive pricing leave them with very little room to absorb the fluctuations.
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